Diaspora Remittances as a Determinant of Private Sector Development

The World is witnessing massive transnational migrations triggered by globalization, political conflicts and socioeconomic push factors. These migrations are associated with brain drain which is detrimental to developing countries. On the other had diaspora remittances sent and received globally have doubled recently making these capital flows an important driver of economic development. What is worth noting is the fact that the developing countries suffers the highest number migrants and enjoy proportionate amount of remittances receipts. A significant portion of these remittances is channeled through unofficial mean. Contrary, a sound and vibrant private sector depends on the effectiveness and efficiency of the financial sector in mobilization and allocation of economic resource. Its on this background that this book studies the impact of Diaspora Remittances on Private Sector Development and the moderating role of Financial Sector Development- A Case of Sub-Saharan Africa